MINDAX LIMITED — Share Issue/Capital Change 2010

Jan 18, 2010

PRINCIPAL OFFICE

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Level 2, 25 Richardson Street, West Perth WA 6005 PO Box 92, West Perth WA 6872 T +61 8 9485 2600 F +61 8 9485 2500 www.mindax.com.au

ABN 28 106 866 442

Statement to ASX Limited 19 January 2010

Mindax is a Perth based diversified explorer for uranium, gold, base metals and iron ore with tenement portfolios in the SandstoneMeekatharra area and in the Western Gneiss terrane of the Yilgarn Craton

Mindax Limited was listed on the Australian Securities Exchange in December 2004

Code: MDX

A full description of the Company’s activities is available at our website

www.mindax.com.au

Inquiries about this statement or about the Company’s business should be directed to

Bonus Issue of Options

Further to the announcement released to the market on 15 December 2009 in regard to a bonus issue of options (“the Issue”), Mindax Limited advises that the record date for the Issue will be 5pm AWST Wednesday 3 February 2010.

Following is a letter being despatched to existing holders of options over unissued shares in the Company notifying them of the Issue.

Yours sincerely

Greg Bromley Managing Director

Investor inquiries can be directed to:

info@mindax.com.au

Angelo Francesca Company secretary

PRINCIPAL OFFICE

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Level 2, 25 Richardson Street, West Perth WA 6005 PO Box 92, West Perth WA 6872 T +61 8 9485 2600 F +61 8 9485 2500 www.mindax.com.au

ABN 28 106 866 442

19 January 2010

Dear Optionholder

BONUS ISSUE OF OPTIONS TO SHAREHOLDERS

On 15 December 2009, the Directors of Mindax Limited (“Mindax”) announced a bonus issue of options (“bonus issue”). The bonus issue will be to eligible shareholders on the basis of 1 option for every 2 fully paid ordinary shares held as at the record date, being 5pm AWST, 3 February 2010. The options will be issued free to eligible shareholders.

Each bonus option entitles the holder to subscribe for one fully paid ordinary share in Mindax at an exercise price of $0.75 on or before 5pm AWST, 1 December 2011.

As a holder of options over unissued shares in Mindax you are not entitled to participate in the bonus issue. However, if you exercise your options so that you become a registered holder before 5pm AWST on 3 February 2010 (being the record date for the bonus issue), then you will be entitled to participate in the bonus issue. Should you decide to exercise your options, then you will need to complete the option exercise form previously despatched to you and forward it with your payment to Mindax’s share registry:

Advanced Share Registry Services

By post: In person: PO Box 1156 150 Stirling Highway Nedlands WA 6909 Nedlands WA 6009

If you are in any doubt about what you should do then you should take advice from your professional adviser.

Yours sincerely

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Angelo Francesca Company Secretary

REGISTERED OFFICE: FJH Solutions, 21 Teddington Road, Burswood WA 6100